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    The document provides information to record adjusting journal entries for Belle Fleur Consulting Services for the year ended December 31, 2019. It includes details on inventory, unearned revenue, prepaid expenses, accrued expenses, estimated expenses, supplies, and notes payable that require adjusting entries to update account balances. The solution provides the adjusting journal entries to record these adjustments. Analyzing the entries, the balance of the Unearned Seminar Fees account after posting is $12,000.

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    Solutiondone 420

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    trilocksp Singh
    10 views1 page
    The document provides information to record adjusting journal entries for Belle Fleur Consulting Services for the year ended December 31, 2019. It includes details on inventory, unearned revenue, prepaid expenses, accrued expenses, estimated expenses, supplies, and notes payable that require adjusting entries to update account balances. The solution provides the adjusting journal entries to record these adjustments. Analyzing the entries, the balance of the Unearned Seminar Fees account after posting is $12,000.

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    The document provides information to record adjusting journal entries for Belle Fleur Consulting Services for the year ended December 31, 2019. It includes details on inventory, unearned revenue, prepaid expenses, accrued expenses, estimated expenses, supplies, and notes payable that require adjusting entries to update account balances. The solution provides the adjusting journal entries to record these adjustments. Analyzing the entries, the balance of the Unearned Seminar Fees account after posting is $12,000.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    10 views1 page

    Solutiondone 420

    Uploaded by

    trilocksp Singh
    The document provides information to record adjusting journal entries for Belle Fleur Consulting Services for the year ended December 31, 2019. It includes details on inventory, unearned revenue, prepaid expenses, accrued expenses, estimated expenses, supplies, and notes payable that require adjusting entries to update account balances. The solution provides the adjusting journal entries to record these adjustments. Analyzing the entries, the balance of the Unearned Seminar Fees account after posting is $12,000.

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    Based on the information below record the adjusting

    journal entries
    Based on the information below, record the adjusting journal entries that must be made for Belle
    Fleur Consulting Services on December 31, 2019. The company has a December 31 fiscal year-
    end. Use 18 as the page number for the general journal.a.-b. Merchandise Inventory, before
    adjustment, has a balance of $9,700. The newly counted inventory balance is $10,800.c.
    Unearned Seminar Fees has a balance of $18,000, representing prepayment by customers for
    four seminars to be conducted in December 2019 and January 2020. Three seminars had been
    conducted by December 31, 2019.d. Prepaid Insurance has a balance of $12,000 for six
    months' insurance paid in advance onOctober 1, 2019.e. Store equipment costing $12,000 was
    purchased on September 1, 2019. It has a salvage value of $600 and a useful life of five years.f.
    Employees have earned $1,000 of wages not paid at December 31, 2019.g. The employer
    owes the following taxes on wages not paid at December 31, 2019: SUTA, $30.00; FUTA,
    $6.00; Medicare, $14.50; and social security, $62.00.h. Management estimates uncollectible
    accounts expense at 1.5 percent (0.015) of sales. This year's sales were $3,000,000.i. Prepaid
    Rent has a balance of $13,500 for nine months' rent paid in advance on October 1,2019.j. The
    Supplies account in the general ledger has a balance of $600. A count of supplies on hand at
    December 31, 2019, indicated $150 of supplies remain.k. The company borrowed $15,000 on a
    two-month note payable dated December 1, 2019. The note bears interest at 8 percent.Analyze:
    After all adjusting entries have been journalized and posted, what is the balance of the
    Unearned Seminar Fees account?View Solution: Based on the information below record the
    adjusting journal entries
    SOLUTION-- http://solutiondone.online/downloads/based-on-the-information-below-record-the-
    adjusting-journal-entries/

    Unlock answers here solutiondone.online

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